- House prices fell 0.8% month on month in August
- House prices now 5.3% below August 2022 peak
- Represents annual fall of c£14,600 on a typical home
August in normal times tends to be one of the quieter months as many people are away on holiday. Traditionally buyers then return feeling refreshed and motivated to be in their new home by Christmas which means the pace tends to pick up around the second week of September.
Whether this happens this year of course remains to be seen.
Whilst still a long way off from the government set target of 2%, the headline inflation rate appears to be going in the right direction which will hopefully lead to the continued reduction of mortgage fixed rates as banks increase their appetite to lend.
Full report here:
https://www.nationwidehousepriceinde...64-18cgv-qysv4
